Who is delusional?

I had a listen to young Michael McNeily of MTR earlier today: http://www.*.co.uk/companies/stockt...ralian-miner-kingsgate-consolidated-8374.html I think it’s a strong 50/50 chance that MTR will get up.

Be it corporate or politics, in every race there are two types of supporters. The diehards - you could literally wipe you’re backside on a bit of paper and hand it to them as strategy or policy and they would accept it, they tend to place blind support ahead of historical fact; and the visionaries – they tend to opt for change vs the status quo if, after giving the incumbents a good strong go, they now see the need for change, realizing that sometimes the fresh blood with the new ideas and alternate ways can bring strong benefits and, without disrespect, the downside to giving the fresh blood a go is rather low.

RSK has responded that his now largest shareholder is delusional. Perhaps RSK, his board and his supporters should cogitate the following two questions:

1. What was the total % dilution to KCN’s shareholders upon the crystallization of the Challenger and Bowdens assets? Hint: this is a very large %.

2. In light of question 1, how much institutional support do you really think you can muster?

While listening to young Micahel one statistic became apparent, and that’s the ‘who on the board frequents or lives in Thailand statistic’. The answer is:

KCN Board – 0/4 (possibly 1/4, but doubtful, as I do not know RSK’s travel schedule).
MTR Proposed Board – 3/6 assuming PA stays.

Note the use of the word frequent, not visit. For this question the word frequent should be interpreted as being in Thailand for say 1-2 weeks per month, giving one an effective in country presence. Perhaps a lot of other aspirational international resource explorers should consider this statistic.

So, using sailing as the analogy, why not tack for clean air as staying the current course will only leave you with the dirty air.

I have added a signature, apparently I am a troll.  The boys and their supporters over at LKE didn’t like my robust questioning of a management decision around a smelly piece of junk debt LKE issued - funny that – and I was therefore rendered a troll. In considering at length the definition of troll in one of the English languages finest dictionaries (which is of English origins) it is apparent that we are all trolls on hot copper. It is also apparent that many of the trolls on HC have little to offer.